March 25, 2023

That Bill Gates is not exactly a fan of the world of cryptocurrencies and the businesses related to these assets is nothing new. In fact, on more than one occasion he has shown his opposition to them and has expressed his distrust that they cause him, above all, due to the volatility of their value. In March 2022, the American tycoon once again spoke about it with some controversial statements: “If you don’t have as much money as Elon Musk, be careful.”

A few days ago, it was the popularity of the NFT (Non-Fungible Token), specifically, the Boored Apes or ‘Bored Apes’, which eclipsed his speech. But this was not the first time that the famous founder of Microsoft expressed his rejection of the blockchain.

The truth is that cryptocurrencies have been declining for a long time. The all-time highs that bitcoin experienced in 2021, when it exceeded $65,000, contrast with the abrupt fall it had in 2022. While magnates like Elon Musk are in favor of them, others like Billo Gates openly question their viability.

The “dumbest theory”, according to Bill Gates

Years ago, concepts like Boored Apes, which allude to designs that represent colored monkeys with various characteristics in their illustration, ceased to be a mystery to many. The so-called ‘Bored Apes’ -in Spanish- were bought with cryptocurrencies and the revolution they caused on the internet was such that some were valued at close to half a million dollars. However, its price has fallen a lot due to the current unattractiveness of NFTs: after double-digit falls in recent months, only the two most famous currencies, Bitcoin and Ethereum, are growing.

“They are based on the theory of the dumbest, that someone will end up paying,” criticized Bill Gates. And it is that the big price increases that the Boored Apes experienced a few months ago were adjusted to the popularity that Bitcoin enjoyed, and the viral phenomenon that NFTs brought to billionaires.

Hence, he warns that it is precisely the last person who acquires them who must assume the losses that occur as a result of the collapse of cryptocurrencies. In a discussion on the environment organized by TechCrunch magazine, Gates wryly stated that “obviously, expensive images of digital monkeys are going to make the world a lot better.”

A way to evade taxes

If there is something that Bill Gates has always wanted to make clear, it is that he has never been – and will never be – a participant in the world of cryptocurrencies. “I’m not involved in that, I don’t invest in the short or long term,” he says.

He undoubtedly prefers to invest his funds in companies that create real taxes, not in services that “have anonymity used to evade”, as he declares. Instead, stress that you are used to “assets that make products, like a farm or factory.”

In addition, the founder of Microsoft prefers to focus on his work in the fight against climate change and, therefore, find solutions that stop global warming and possible future pandemics. So much so that he dedicated his last two books to these two issues.

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